ints 12 Submitting an external tool Attempts o Allowed Attempts 1 Available until Apr 25 at 11pm Kimmel, Accounting, 7e Help System Announcements CALCULATOR PRINTER VERSION RACK NEXT Exercise 22-15 Deltz Corporation is projecting a cash balance of $34,200 in its December 31, 2019, balance sheet. Deltz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $210,900. The schedule of expected payments for direct materials for the first quarter of 2020 shown total payments of $49,020. Other nformation gathered for the first quarter of 2020 is sale of equipment $3,420; direct labor $79,800, manufacturing overhead $39,900, selling and administrative expenses 551,300; and purchase of securities $15,960. Deitz wants to maintain a balance of at least $28,500 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget YORK >> Study